Utah Admin. Code R966-1-37 - Finders
(1) No person or company shall be entitled to
a fee for discovering presumptively abandoned property until it has been in the
custody of the administrator for at least 24 months. Fees for discovering
property that has been in the custody of the administrator for more than 24
months shall be limited to not more than 20% of the amount collected.
(2) Notwithstanding anything in this Section
to the contrary, a licensed attorney, licensed CPA or a licensed CPA firm may
pursue a claim for recovery of specifically identified property held by the
administrator or to contest the administrator's denial of a claim for recovery
of the property provided he or she has an attorney-client relationship with the
apparent owner.
(3) For claims in
which a finder is assisting an apparent owner, the following shall be submitted
to the administrator:
(a) A signed, dated, and
notarized copy of the contract between the finder and the apparent owner which
satisfies the requirements of the Act and specifies the obligations of the
parties as well as the fee arrangement between the finder and claimant;
and,
(b) If the finder charges a
contingent fee, a copy of the active private detective license issued by the
Utah Department of Public Safety, Bureau of Criminal Identification (BCI) to
the finder.
Notes
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